BitcoinShort
Let's be Realistic!
Updated
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It is not a mystery that traditional markets are hurting. They're essentially bleeding out. From interest rate hikes to high inflation and now a decrease in the U.S. GDP (Gross Domestic Product). Let's be honest. In the short term, things are not looking very bullish. This is especially true if you consider what else is going on in the world. Inflation is at a 40-year high, at least according to the data. This of course is without considering things like the rising prices of oil.
If you are looking to put in a short right now would be the time to start looking for a short setup. Don't just enter because the market is looking to go a certain way. Markets can reverse at any time. Define its direction. Answer what is supporting it and what is holding it back. This is something that could be answered technically as well as fundamentally.
According to Michael Saylor, there are 3 market participants in Bitcoin. There are the Hodlers (maximalists) who are planning to pass down every Satoshi they can get a hold of to their grandchildren. They're those who are constantly Dollar Cost Averaging no matter the market condition. So they don't control the market besides holding the line. Then there are the technocrats who think it's the next big tech network like Google or Facebook. When they feel bearish they're selling and when they're feeling bullish they're buying. Then there is the trader that thinks it's a correlated risk asset or an uncorrelated asset to risk assets depending on the mood. "It is the technocrats and the traders that are moving the market. It's a product of the tug of war between them and the mood in the market."- Michael Salor.
Please be cautious moving forward. Do not invest unless you have a plan. Know what you're going to do at times like this. Be objective. Long, Wait, or Short are your only options. What do you see long-term? What needs to take place to get there? What do you see short-term? What is supporting your thesis?
If you liked my ideas please hit the LIKE button to show your SUPPORT. Anything else you'd like to add/ask or object to please post it in the COMMENT section. None of this is investment advice but instead user experience.
It is not a mystery that traditional markets are hurting. They're essentially bleeding out. From interest rate hikes to high inflation and now a decrease in the U.S. GDP (Gross Domestic Product). Let's be honest. In the short term, things are not looking very bullish. This is especially true if you consider what else is going on in the world. Inflation is at a 40-year high, at least according to the data. This of course is without considering things like the rising prices of oil.
If you are looking to put in a short right now would be the time to start looking for a short setup. Don't just enter because the market is looking to go a certain way. Markets can reverse at any time. Define its direction. Answer what is supporting it and what is holding it back. This is something that could be answered technically as well as fundamentally.
According to Michael Saylor, there are 3 market participants in Bitcoin. There are the Hodlers (maximalists) who are planning to pass down every Satoshi they can get a hold of to their grandchildren. They're those who are constantly Dollar Cost Averaging no matter the market condition. So they don't control the market besides holding the line. Then there are the technocrats who think it's the next big tech network like Google or Facebook. When they feel bearish they're selling and when they're feeling bullish they're buying. Then there is the trader that thinks it's a correlated risk asset or an uncorrelated asset to risk assets depending on the mood. "It is the technocrats and the traders that are moving the market. It's a product of the tug of war between them and the mood in the market."- Michael Salor.
Please be cautious moving forward. Do not invest unless you have a plan. Know what you're going to do at times like this. Be objective. Long, Wait, or Short are your only options. What do you see long-term? What needs to take place to get there? What do you see short-term? What is supporting your thesis?
If you liked my ideas please hit the LIKE button to show your SUPPORT. Anything else you'd like to add/ask or object to please post it in the COMMENT section. None of this is investment advice but instead user experience.
Note
Please forgive the typos like "causious" and ''EMA" when I should have said "cautious" and "SMA"
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